Hygienic Dress League (HDL Corp)

Hello guys, today we have something totally different to take a look at. Currently, a small understated project but with an experimental vision. HDL Corp wishes to shift the way in which we view and create artwork. HDL aims to pioneer and define their own unique form of art.

The project is in it’s early stages, but well worth a mention – who doesn’t like to be early?

Let’s take a deeper look.

Who is Behind the Project?

The founders behind the project are Dorota & Steve Coy – a husband and wife, conceptual and visual artist duo.

Dorota & Steve have known each other since 2004. Their first art exhibition was called Hygienic Dress League – a name originally found from an old book.

From 2007 onward the duo have been developing and showcasing their unique conceptual/performance art. Ranging from billboards placed in cities across the world, as well as “fake” performance commercials on live TV.

HDL has been a long time in the making and the duo have documented this on their site.

Team Members

Dorota Coy – Artist
Steve Coy – Artist

About the Collection

The collection strives to create a new and original form of art. HDL is taking steps and innovating in new and exciting ways. Primarily the innovation is from the corporations wish to be the first to issue legally compliant revenue generating NFTs.

The plan is accomplished in two key ways. HDL has filed its application with the SEC for a Tier 2 Regulation A+ Exemption to issue securities.
The application clearly notes an IPO price of $50 per share, giving the corporation a 30 million Dollar valuation. The application notes that per block of 10 shares purchased ($500) will come with its own unique NFT called an “employee”. It’s important to note, that the Pre-Genesis NFT THE DEITY is not backed by 10 shares. Holding THE DEITY simply gives you priority access to purchase stock in the HDL IPO and as a result of purchasing 10 shares will give you a new NFT.

It is through the holding of this future NFT which represents 10 shares of Class B Non-Voting Common Stock that a holder will be entitled to a revenue share of future collection sales. It may be possible to still collect dividends by holding less than 10 shares – although you will have no NFT. Because in the filing it states that shares must be purchased in blocks of 10, but exemptions may be made.

Through holding this NFT backed by 10 shares you will be eligible for revenue share on upcoming future drops and collaborations by HDL.

Road Map

Phase 1

Pre-Genesis mint of THE DEITY.

Holding a DEITY will allow you to purchase in the upcoming HDL IPO, giving you first in line access.

THE DEITY sculpture that the NFT is a visualization of will be donated and the funds from mint will be earmarked for future emerging artists.

Phase 2

Public offering begins.

Shareholders will be entitled to profit share from sales of artwork minted by HDL.

Phase 3

Launch Genesis Collection.

HDL will begin the profit sharing system straight from the get go on its Genesis Collection.

Phase 4

HDL will continue to innovate, working with additional artists, and funding the artwork from HDL Corp and minting on the HDL Smart Contract, as a result sharing more revenue with shareholders.

Phase 5

Begin art installation called “HDL Offices” bringing conceptual art to several major US Cities – shareholders will have access to the unique experiences provided plus physical art and new surprise mints.

Socials

• Twitter – 3.8k followers | Joined Oct 2021 – Small purpose-made account for the project. Engagement is very low and could be a lot better. A bit more posting would help too. The team needs to focus on this.
• Discord – 1310 Members | 414 Online – Small Discord. Features a security verification on entry and acceptance of rules. Bots sit below regular users, no shilling channels.

Smart Contract

The Smart Contract is not yet available for review.

Price & Mint Date

The project will be on ETH, but an ETH price is not given. The team simply state $200 USD plus gas fees. So this will be variable up to the mint date. 200 USD is equal to 0.11 ETH on the day of this article (11th Aug 2022).

The project is due to begin its Pre-Genesis mint THE DEITY on September 18th, with other mints to follow after the IPO.

Conclusion

An interesting project, pushing the envelope and creating something new. It’s what we love to read and write about. I think if the SEC filing goes to plan, then the team will have something worthwhile that is currently highly understated. The team is fully doxxed and had to give up their financials and a lot of other information as a result of the application, holding them accountable. HDL is aiming to be totally transparent – which is currently in short supply.

Overall a great project, it was very interesting to write about this one. I think their two primary challenges are that they are really underexposed on Twitter & Discord and require some work in the lead up. However, we are over a month away from the Pre-Genesis so the team has ample time to put in some work.

I would keep an eye on this one and watch out in the lead up. You can still get whitelist spots for THE DEITY from their twitter.

As always, please do your own research. This report does not constitute financial advice.